Portugal: Consumer confidence improves in June, along with economic sentiment
Consumers turned slightly more optimistic in June, with the consumer confidence index rising to minus 8.4 points from minus 9.0 points in May. A markedly less pessimistic outlook on the general economic situation in the next 12 months drove the improved reading. Households were also marginally more upbeat about their personal finances in the past year. On the downside, respondents were slightly more downbeat regarding their personal financial situation in the next 12 months and also showed less willingness to make major purchases over the coming year.
Meanwhile, the overall economic climate indicator edged up to 2.4 points in June from 2.3 points in May. Business sentiment rose in the manufacturing sector on more upbeat outlooks on demand and production, in the construction and public works sector on improved employment prospects, and in the services sector on more favorable business conditions in the past three months. Meanwhile, confidence stabilized in the trade sector.